Why should my business be purging old documents?

When it comes to protecting your business’s sensitive documents and information, the old days are sounding pretty good, aren’t they?

Back then (not that long ago, really), we were worried about someone going through our trash to steal financial information such as bank statements, tax records, customer data and other confidential information.

Then came the cyber criminals attacking the world’s largest companies, which continues to this day.

Then came this explosion of bad actors attacking businesses of all sizes, including the smallest of businesses. 

As business owners (and consumers), make no mistake we are under attack. 

This article focuses on the purging of old records and information, whether in paper or electronic form. We will give you some ideas and tips on how to reduce your risk and maybe save you a little money along the way.

So, whether your business is an old hand when it comes to purging (but might be a little tardy in keeping up), or you simply haven’t pulled the trigger before, this article should give you some food for thought.

What is document purging?

Document purging, also known as paper shredding, records purging or purge shredding, refers to the systematic elimination of outdated or unnecessary documents from a company’s records inventory. This encompasses physical documents, such as paper records and digital files stored in hard drives.

In short, regular document purging serves as a proactive measure to manage information overload, maintain data security and ensure compliance with regulations.

We recommend at least one purge per year for most businesses, some even more often if they store highly confidential documents. By systematically identifying and disposing of obsolete documents, businesses can streamline their operations, optimize storage space and mitigate the risks associated with unauthorized access to sensitive information.

We strongly recommend our clients work with an established shredding company to aid in the process to establish clear policies and procedures for identifying documents eligible for disposal, categorizing records based on their retention requirements and implementing secure disposal methods such as shredding or digital erasure.

Now let’s dive into the details.

Why should you shred your documents with sensitive information when discarding them?

It seems like a silly question when you put it that way. However, many companies hold on to the old ways of securing business documents, which is often simply storing them in boxes or file cabinets in an unused office or an off-site document storage facility.

Following are five good reasons not to do that:

1. Data Security. A security breach can have far-reaching implications, from the obvious fallout of your sensitive information getting into the hands of bad guys, to your company’s reputation being tarnished. Whoever said there is no such thing as bad publicity didn’t know what they were talking about.
2. Regulatory Compliance. Every business has some level of regulations it must follow; some more than others, like financial institutions and healthcare. The Health Insurance Portability and Accountability Act (HIPAA) is a well-known example. Non-compliance can get expensive and have legal implications. 
3. Space Management. Office space is pricey these days. In St. Louis it is common to pay more than $20 per square foot, and even much more in higher demand areas. Why should valuable office space be taken by piles of boxes? The accumulation of paper and electronic records not only clutters workspaces, it clutters your IT systems. It breeds inefficiency and drains productivity.
4. Environmental Benefits. Recycling paper and electronics through regular shredding and disposal reduces your impact on the environment.
5. Save Money. Depending on how far behind you are, you may be able to save on storage costs or external storage. Regular disposal will also help keep you away from non-compliance of regulations, which could be very expensive.

Regular document purging and shredding is beginning to sound pretty good, isn’t it?

So now, let’s look into the benefits of having a company policy for records retention and destruction.

What is a document retention and destruction policy?

This important policy document establishes the framework for the lifecycle of documents within your business. It includes operational requirements for the creation, storage, retention and disposal of all types of records to ensure your company is compliant with legal and regulatory requirements. 

To put it bluntly, this could be a big dose of peace of mind for your company.

Here are the most important components of the policy:

• Document Categories. The goal here is to organize and prioritize your documents. Categories might include financial records, employee records, customer data, contracts and correspondence. 
• Retention Periods. Each document category should specify the length of time documents should be retained based on legal, regulatory and operational considerations. Retention periods may vary depending on factors such as industry standards, statutory requirements and business needs.
• Storage and Access Controls. This is where many companies fall down. The policy must specify procedures preventing unauthorized access, including: encryption, password protection, physical storage measures and access controls. 
• Disposal Methods. The methods for destruction–shredding, incinerating or digital erasure–will be defined based on the prioritization of the type of information. 
• Documentation and Audit Trails. The policy should require documentation of all actions related to document retention and destruction, including the identification of documents, retention periods, disposal methods and approvals. Audit trails provide accountability and facilitate compliance monitoring.

How would I implement a document retention and destruction policy?

Every corner of your business must be engaged in this process. Here are a few tips on how to get it done:

• Policy Development. Establish a cross-functional team led by legal, compliance, IT and records management. Get input from other stakeholders across your business to ensure alignment with your goals.
• Communication and Training. This is so critical. Educate employees about the policy’s purpose, requirements and implications for their roles. Offer training sessions to ensure they understand their responsibilities for document management and compliance.
• Documentation and Enforcement. Produce a formal document for all in the business to see. Be prepared to enforce the policies with regular audits, monitoring and disciplinary measures for non-compliance.
• Periodic Review and Updates. Keep your policy in tune with changing laws, regulations, industry standards and business practices. And make sure you get feedback from the organization to identify areas for improvement.

Formalizing how you manage documents and information will be a gift that keeps on giving. 

What are the options for professional document shredding?

You have several options. This section explores different methods, including physical and electronic file destruction, to effectively safeguard data integrity and privacy.

On-Site Shredding

This involves the use of mobile shredding trucks that come to your office(s) to shred documents while they are there. It provides added security as documents are destroyed on-site, minimizing the risk of data breaches during transportation, such as with an off-site shredding service. This process allows the client to watch their documents being destroyed. This is the primary service offered by Secure Document Destruction of St. Louis (SDD) and we always provide a certificate of destruction.

Off-Site Shredding

This entails collecting documents from the business premises and transporting them to a secure facility for shredding. This method is typically less expensive than on-site and does not allow the client to witness the destruction process. 

Destroying Electronic Files and Hardware

This has become a much more complex issue for businesses with the use of mobile phones, tablets and other portable devices, such as laptops. There are two types:

• Electronic Files. This utilizes specialized software to permanently delete electronic files. It may also involve overwriting data multiple times or utilizing encryption techniques to render files unreadable.
• Hardware Destruction. This involves physically destroying hardware such as hard drives, USB drives and other storage devices to prevent data recovery. Methods may include shredding, crushing, degaussing or disintegration to render the hardware unusable. It provides a secure solution for disposing of end-of-life hardware and mitigating the risk of data breaches. SDD provides this service.

To conclude, This article has covered all the reasons why you should do this. What we haven’t hit as hard is what happens to a customer’s trust in your business if your data–their data–is stolen. No matter how well you clean up the mess, there will always be a lingering doubt.

Our advice is to embrace a systematic process to destroy old documents and information. Let me know if SDD of St. Louis can help you with this process.